Blue Print for Personal and Professional Growth Essay Example for Free

Blue Print for Personal and Professional Growth Essay This course has provided me with a multitude of tools, and it has definitely taught me to put careful thought into every situation as it pertains to change; whether it relates to work, school, or things that are going on in my personal life. These tools are both important and necessary in order to become an effective manager in the future. This course has taught me a lot in terms of initiating and managing change, and Kotter’s eight-stage process is a very useful approach when it comes to making changes within an organization. This course has helped me strengthen my skills in overcoming barriers that tend to get and make it difficult to keep up with the change process. For me, the most interesting part of the course was learning about how today’s organizations are constantly evolving to accommodate change and learning about the tools that are required in order to work through those barriers that are known to effect efficient and positive change within organizations. To become an effective change advocate, it will be important for me to understand that although the change process can become somewhat difficult, it is possible when the necessary steps are applied to the change process. In addition to believing that change is possible, it is also important to carefully plan for change to assure that the process has been carefully thought out before attempting to apply changes within an organization. Being creative and motivated will also help me to become an effective change advocate as being creative will allow me to step outside of my comfort zone and think outside of the box while being motivated will help build momentum among myself and my employees as well as trust. Being creative will also give me the courage to take risks. Finally, to become an effective change advocate, it will be important for me to be flexible when it comes to change so that I will be able to adjust to any unforeseen circumstances that may arise. Leadership for Change: Enduring Skills for Change Masters Upon reviewing Kanter’s Article, â€Å"Leadership for Change: Enduring Skills for Change Master’s†, I found that of the seven skills described by Kanter, one area of weakness is skill #1: Sensing Needs and Opportunities: Tuning in to the Environment. As the author states, â€Å"Innovation begins with someone being aware enough to sense a new need† (Kanter, 2003). Being a person who has always struggled with adapting to new things, I would definitely benefit from strengthening this skill so that I am equipped with the necessary tools that will allow me to sense when there is a need for change as well as being able to identify the gaps between what is and what could be. Another weak area for me is skill #4: Enlisting Backers and Supporters: Getting Buy-Ins, Building Coalitions†. Strengthening this skill will allow me to bring on board the right people who are needed to help successfully implement the change as having too many people involved with the process could cause a delay in the implementation of the change, or could result in failure. This will require me to communicate my vision in order to find out who is receptive of the change and who is resistant as well ask finding out exactly who I will need to help with the change process. In order to further strengthen my management skills, I will continue with my program at Walden University until I have earned a Master’s degree in the field of management. This program will prepare me to successfully manage my employees and projects as well as how to face some of the critical challenges that exist in today’s society. I will also refer to the tools that have been provided to me in this course as I am sure they will serve as a guide in my quest to enter into the management arena as well as my personal life when change becomes necessary. When it comes to change, it is important to be able to determine both the reason for the change and why it is necessary. I will use the skills that I’ve gained in this course by applying them to changes that take place in my personal life and in my professional life, when applicable. When I am involved in the change process, I will make sure to follow Kotter’s eight-stage process to ensure that the change is implemented successfully and will little or no interferences.

Spiral of Silence: Communication Theory

Spiral of Silence: Communication Theory This is a report based on the communication theory â€Å"Spiral of Silence and the aim of the report is to investigate the theory more into detail, to validate it and to see how it applies to our society, mainly in the I.T industry. The report outlines the finding that I have researched and complied with the help of books, data bases, journals and external sources. Based on the theory, Elizabeth Noelle Neumann stated that if individuals believed that they are part of the minority, the less likely they are to voice their opinion due to the fear of isolation. There were many other theorists that supported her view and others that had stated so before her. There was a variety of theory being investigated and in many different forms but the all focused on one thing which was, the â€Å"fear of social isolation†. There were many forms of research method used, based on the public view, a country as a whole and as individual view. The theory is said to apply to very delicate topics such as war, politics, misuse of authority and other views that could cause massive debate. This is the reason why people tend to think twice when it comes to voicing their views if they believe that they are in the minority group. Having a fair idea of what the theory is about, I will validate the theory with all the information that I have found and prove the theory stating if the theory has any connection to our society and individuals. Introduction Purpose This report is based on the theory spiral of silence those main purpose is to state how it can be applied to everyday situations and particularly the I.T industry. Research is an investigative process where we search systematically for solutions to problems. It is about rules to guide our research and helping us to evaluate the research of others. The function of the research is to test the theory. Research is the instrument used to test whether a theory is correct or not. It is the process by which data is gathered to generate a theory and used to test a theory. This main purpose for this report is to explain the theory in detail and outline the key issues that the theory sates. Also it helps us understand communication theory better and clearer, since communication is an important skill to have in the I.T industry and we also use it in our everyday lives, it is an important skill to have. There are a lot of topics and political problems that people are afraid to talk about and spea k out on and so I will try to prove or investigate the theory and see if the theory relates to what it states and if the theorists is credible. Scope In the report I will be investigating the theory and its relationship it has to communication. I will also evaluate the credibility of the theorists and the theory and how it can be applied to the present day situations particularly in the information technology industry. There were a lot of different views expressed and in different context. I will be focusing more in the involvement and effect that the media has on us as individuals in forming opinions. Since media is seen to play a major role in this theory, I will focus more on it but not forgetting the other factors that may cause the spiral of silence. I will also outline some of the tests and experiments that were done by some scholars and theorist and evaluate it. Limitations During the overall completion of the project I did face certain problems and ran into difficulties. Firstly although there was enough time given to complete the research I had other projects to complete, which in turn made it difficult to compile the report. There was however a bit of restriction on the amount of information that was available on the internet, in that case I had rely on the other sources like the pro-quest and the online data base. There werent many books available in the library that contained information regarding my theory so my tutor was able to issue me with some books which did help me compile my research. The computer labs on campus were usually occupied and so I had to do most of my research and the typing at home. Research Methods Searching for information and investigating the theory was a very challenging task to do especially when here were limited resources available on the internet. There were information available but most of it had similar information which made it hard to use. I had to use all resources available including library data bases, internet and old scholar journals. I wasnt really able to find any books in the library, but I was able to get two books from my tutor that contained information about my theory and it provided me with a lot of details that helped me understand the theory in details and explained the theory in detail and context. It explained a lot about the theory stating the history and how it is viewed by the public and each individual. Most of the information which I found on the internet was manly repeated and each website stated almost similar information which really stated the same information. The only relevant information that I was able to use was the information about the theory and the theorist. The Scholar journals did have a bit more information about the theory which mainly based on a research that was done. I found some journal that stated a research and the findings of the investigation. It looked at the theory in a different form in which it was applied in an investigation and research. Structure Of The Report In this report I will briefly explain and introduce the theory then explain the purpose, scope, research methods and limitations of the research. I will also do a literature review that will briefly review some of the sources where I got my information from. The main body will contain the findings, background, key issues, and application of the theory then finally evaluate it. In the final part I will summarise my report and then state my opinions and thoughts about the theory. Literature Review Book Reviews Book 1: Communication Theories for Everyday Life John R. Baldwin, Stephen D. Perry, Mary Anne Moffitt. (2003). Communication Theories for Everyday Life (1st Edition). Person: Allyn Bacon, Inc. Summary The book Communication Theories for Everyday Life (New Edition) provides us with a lot of information on the theory by Elizabeth Neumann, The Spiral of silence. The authors in this book mainly focus the theory spiral of silence based on the media which is said to play an influential role. They believe that the media plays an important role in influencing the public into making decisions or ideas. They explained how the theory provides some insight into why we might avoid contributing to some political discussions but participate fully in others based on our observation of opinion in the real world. Sports can also bring out heated opinions in certain settings with fans of a certain team will argue or debate amongst a member of the opposing teams. When issues like this arise we tend to be more careful about when and to whom we express our ideas and opinions. We are constantly surveying our environment subconsciously for trends in public opinions. Television is believed to be the most influential medium for this theory since it is everywhere. We may not own a TV of our own but we see it in stores, airports or at a friends house. Being part of the majority is what most people tend to want and we will compare our opinions with that of the majority because we desire social inclusion. Therefore if someone believes he or she is in the minority, that person will be inhibited from speaking out and expressing the minority view point. Validation After carefully reading and analysing the following abstract from the book, I conclude that the facts that were stated in this book do have some connections to the theory. They have outlined a lot of ideas to what the theory spiral of silence is about. It also points out some important facts mainly that mass media is seen to be a very important tool in changing peoples views or forming their decisions. Since people tend to base their decisions on the majoritys choice. It also provides some insight into how television actually has an impact on the people as a whole. It proves that people are double mined on speaking out as a minority and will be more comfortable if they believe that they are part of the majority. Since there is a lot of support in the majority we wont fear social isolation, but if we are in the minority there is not much support and so we fear that we are on our own and so we may be isolated. According to the theory by Elizabeth she believes that mass media does have a huge effect on the theory and so the authors have based most of their finding on Neumanns theory about the media. Most of the information in the abstract concentrates on the medias influence, changes and perceptions that it may have on our opinions. Book 2: Introducing Communication Theory: Analysis Application Richard West, Lynn H. Tuner. (2004). Introducing Communication Theory: Analysis Application (2nd Edition). Marquette University Summary The Book Introducing Communication Theory: Analysis Application, explains the theory spiral of silence by Elizabeth Noelle Neumann. It explains how the media has impacted our opinions and changed dramatically over the years. The authors stated that over the years the media has helped to shape and make us what we are today. They believe that Neumann focused on what happened when people provide their opinions on a variety of issues that the media have defined for the public. Her theory suggests that people who believe that they hold a minority viewpoint on the public issue will remain in the background or isolated. Where their communication will be constrained, those who believe that they hold a majority viewpoint will be encouraged to speak out. Neumann stated that the media will focus more on the majority views while underestimating the minority viewpoint. She believes that the media will only be focused on the minority and their views while forgetting the minority groups. The minori ty will be less assertive in communicating their opinions therefore leading to a downward spiral of communication. The minority will then overestimate their influence and will become emboldened in their opinions where the media reports on their opinions and activities. The media is seen to play a very important role in the theory. The media chooses to report on the majority groups opinions and activities and only tend to focus on them where they will be heard by the public. The minority will then be forgotten and so their opinions and view s are not heard. Validation The authors have highlighted some very important points about the theory. Mass media being the main focus, it has a lot of influence on peoples opinions. It is seen to be a very powerful tool that could change peoples views and mentality. It has the power to influence and change people beliefs, making them believe what they are told or shown. It is human mentality to go with the flow and just follow the crowd. We are easily convinced just because the majority rules. If we had to debate a topic and asked to choose an answer we tend to choose the group where there is a lot of support forgetting about the minority. The authors are just moving on from Neumanns theory to explaining more into detail the role of the media on our opinions. Thought they may not have done any research on the theory, they have research more on the theory and explained it in simple terms. Library Databases Journal 1: The Spiral of Silence is broken Jose Luis Barberia, Kel Pais Rel Pais. (March 5, 2009). The Spiral of Silence is broken. (1), (6). Summary This article was based on an experiment that was done in Taiwan which explored the relationships between inoculation and the spiral of silence theory. According to the writers they believed that inoculation strategies would be able to ease spiral of silence focusing on resistance to counter-attitudinal attack and willingness to speak out for fear of isolation. The study was based on random sampled citizens in Taiwan while he issue being Taiwans political future in relation the Peoples Republic of China. The results concluded that Inoculation treatments enhanced peoples resistance to attitude change. The study seeks to integrate the theories of inoculation and the spiral of silence. The factors featured in the spiral of silence theory might have significant implications for inoculation studies.They also stated that Noelle-Neumann initiated some original assumptions of the theory which was individual, media system and societal. They explained that individuals are social beings are afra id of being isolated from their fellow human being. Secondly, in order to avoid being isolated or losing popularity, individuals constantly observe their environment to locate proper positions to enable them to perceive the distribution of opinions. Third is that the individuals are capable of distinguishing between static and fluid opinions. Fourth is the social environment where individual notice that their personal opinions are spreading and supported by others will voice their opinions confidently in public. In contrast, if they notice their opinions losing ground they will adopt a more reserved attitude when speaking out in public or even withdraw from the public discussion. This is the chain reaction for fear of isolation. Validation This journal goes deep into context and explains the theory deeper and focuses on the human behaviour based on the theory. It was an experiment that was done in Taiwan, exploring the relationships between Inoculation and the spiral of silence theory. It was stated that Inoculation could counter the spiral of silence theory. The study focused more on the human behaviour and explains why we tend to isolate ourselves and are afraid to speak out in public. It helps us understand why the theory affects the minority groups. It examined the potential influences of the individuals construct on opinion expression as a cultural-level and the willingness to express opinions differing across two cultures. The test also saw that the lack of efficacy negatively predicts a willingness to express opinions while the lack of self-assurance of ones opinions negatively predicts a willingness to express opinions. Journal 2: The Spiral of Silence and Public opinion on affirmative action Patricia May, David Domke, Keith Stamm. (Spring, 2001). The Spiral of Silence and Public opinion on affirmative action. (78). (1) This journal was a study done to explain the key variables involved in Elizabeth Noelle-Neumanns Spiral of Silence Theory, which states that fearing isolation is what keeps the individuals from expressing their desired opinions because they are minority. The authors decided to carry out a test based on the theory but in the context of public discussion which was focused on affirmative action policies. They reviewed selected data from 217 randomly selected adults on October 1998 that indicated fear of isolation. It showed that fear of isolation indeed prevents one from publicly voicing perceived minority opinions. The willingness to speak out on a controversial ballot was predicted also by demographics, media use and the importance of the issue. In recent years, citizens have voted to repeal affirmative action laws and policies that have been enacted in the 1960s and 1970s; ensuring opportunity regards less of race and gender. It is believed that this trend caused more harm than good, while others disagreed arguing that affirmative action may be the best approach. There were a lot of public discussions about affirmative action. They believed that Neumann suggest that issues which are controversial tends to make people refrain from expressing their opinions if they believe that it will only be shared by minority. The study basically explores the factors contributing to peoples willingness to speak publicly on controversial topics, focusing on the concept of fear of isolation. Validation This journal is another research project investigating more on the theory. They researched it on the public opinions based on affirmative actions. The theory suggests that isolation from the publicly stating our opinions may occur people believe that they are part of the minority group. The study does prove the theory to some extent where they based the study on public opinions which does have a lot to do with the theory because it is mainly in public that people are double minded on raising their opinions. People are also cautious when speaking on controversial topics and topics which may raise some concerns or opinions. The study was seen to be successful and so does to some extent prove the theory correct. Overall in this case I can say that the theory is correct and the study done was successful and did test the willingness of the public on the controversial ballot. The only downside would be that they used data from the past and merged it with their research, which means that it may be old or irrelevant with the present time. Internet Sources Source 1: Wikipedia Wikipedia. (2009). Spiral of silence. Retrieved August 12, 2009, from Summary This web page explains Elizabeth Neumanns theory is a theoretical way. It states that the theory is a political science and mass communication theory. The spiral of silence begins with the fear of retaliation or isolation and escalates from there. Mass media is seen to play a major role in determining what the dominant opinion is, since our observation is limited to a small percentage of the population. Neumann describes the spiral of silence as a dynamic process, where public opinion becomes a fact as mass medias coverage of the majority opinion gets more publicity, and the minority becomes less likely to speak out. The theory is seen to only apply to moral or opinion issues, not issues that can be proven right or wrong using facts. People who are highly educated, or who have greater affluence or those who do not fear isolation will speak out regardless of public opinions which means the minority is a necessary factor of change while the compliant majority is a necessary factor of s tability, with both being a product of evolution. Most research is focused on social issues such as smoking and the aftermath of September 11, 2001. The concept of isolation has a variety of definitions, depending on the circumstances it is investigated in. It could be defined as social withdrawal which means less interaction. Researchers have defined isolation as low levels of peer acceptance or high levels of peer rejection. The features of the internet could not only bring about more people to deliberate by freeing people of the psychological barriers. They have also raised another point where the internet is also another form of expressing their views without fear of isolation because it can be anonymous and there is no human contact which means that the persons identity could be protected. The internet has a lot of users because it liberates people from the social hierarchies and power relations that exists offline without any human contact. Validation Wikipedia is an online web-based encyclopaedia project supported by the non-profit Wikimedia Foundation which provides us with any information that we may want. The only problem is that most of the information is posted on by the public, which means they may not be proven theoretically or have any evidence. Wikipedia looks at the theory in a theoretical perspective which explains the theory in detailed and clearer view which is closely connected with the Elizabeth theory. According to the author he/she also believes that mass media plays an important role in the theory and how it works. The concept of isolation is also explained deeper into context where it has varies definitions. It explains the social withdrawal which means less interaction and isolation. It looks at the internet as another medium that has a very huge impact on people. Since it can be accessed from home or anywhere and is gives us choices on what we want to do because it does not include human contact which makes i t easier for the minority groups or any individual to express themselves and will not be isolated because it is anonymous. Findings About The Theorist Elisabeth Noelle-Neumann is a German political scientist that was born on the 19th of December, 1916. Her most famous contribution is the model of the spiral of silence which is an explanation of how perceived public opinion can influence individual opinions or actions. She earned her Abitur in 1935 in Gà ¶ttingen and then studied philosophy, history, journalism, and American studies at the Friedrich Wilhelm University, the Kà ¶nigsberg Albertina University, and the University of Missouri. She lived in the USA from 1937 to 1938 andiIn 1940 she received her PhD concentrating on public opinion research in the USA. Noelle-Neumann was also the president of the World Association for Public Opinion Research from 1978 to 1980 and worked as a guest professor at the University of Chicago from 1978 to 1991. About The Theory Spiral of Silence is an innovative theory of public opinion that developed by Elisabeth Noelle-Neumann. Noelle-Neumann follows the paths of past philosophers Locke, Hume, Rousseau, Goethe, and James Madison, in that she considers public opinion a physical force that controls peoples decisions. Noelle-Neumann blames the spiral of silence on fear of isolation. In other words, people who feel that they are in the minority may keep quiet because they fear ridicule from the majority. The phrase â€Å"spiral of silence refers to how people tend to stay silent when they feel that their views are in the minority. The model shows the increasing pressure which people are noticing to conceal their views when they think that they are in the minority. It is a political science and mass communication theory which begins with fear of reprisal or isolation, and escalates from there. Spiral of Silence model The model is based on three premises: 1. People have a sixth-sense, which allows them to know the prevailing public opinion, even without access to polls. 2. People have a fear of isolation and know what behaviours will increase their likelihood of being socially isolated. 3. People are silent to express their minority views, primarily out of fear of being isolated. Source: http://www.cw.utwente.nl/theorieenoverzicht/Levels%20of%20theories/macro/spiral_of_silence.doc/ Introduction Elizabeth Neumann examines public opinion as a form of social control. She believes that Individuals instinctively notice the opinions of those around them and shape their behaviour according to what is acceptable. The closer a person believes the opinion held is similar to the prevailing public opinion, the more he/she is willing to openly disclose that opinion in public. If the public statement changes, the person will recognize that the opinions loses its popularity and the person will be less willing to express that opinion publicly. In her model of opinion formation, Elizabeth Noelle-Neumann postulates a spiral of silence: to avoid isolation, people holding minority views either change their ideas to conform to the majoritys views or remain silent, thus increasing the impression of the majority views dominance. While providing a helpful integration of disparate ideas in public opinion formation, Noelle-Neumanns framework has been questioned at a number of points. Is it reasonable to assume that since people fear isolation, most fear being in the minority? Her research suggests, in fact, that many people can oppose majority views as long as they have individual or group support and that interpersonal relationships have a greater impact on opinion formation than impersonal public opinion presented through the media. Recent studies have also offered an alternative to Noelle-Neumanns view of people as simply reacting to their perception of public opinion, suggesting that instead, people use their own opinions to for m their perceptions of public attitudes. Whether peoples behaviour resembles the reaction or projection model may depend on a number of conditions, including their familiarity with the issue. Further research is needed on the many factors influencing opinion formation The Fear Of Isolation This is the main force that drives the spiral of silence. People want to be identified as a winner and therefore conform to the majoritys beliefs. The last thing that people want is to be isolated from a group or society. There are some exceptions though, as there is a time to speak and a time to keep silent which is centred on public opinion. If our view is in favour we will speak out then when our views drop out of favour, we will most defiantly keep silent. Summary In 1973, Elizabeth Noelle- Neumann articulated one of the few integrated expositions of the mass communication effects and the process of public opinion. In general she was able to demonstrate that individuals can attempt to gauge majority opinion on an issue and that some individuals appear to be influenced by their perceptions of majority opinion on some issues. In doing so she was successful in clarifying and empirically testing hypothesis about a concept that has been only vaguely defined in public opinion. In this report I will be outlining Noelle-Neumanns conceptualization of two key concepts, the climate of opinion and that spiral of silence of silence. The validity of basing the â€Å"fear of isolation† concept on social psychological literature on conformity is examined. Also the role of the media in conveying the majority opinion will be examined. The Spiral Of Silence According to Noelle- Neumann, individuals are constantly sensitive to the climate of opinion and assess the distribution and strength of the opinion for and against their own. The tendency of one to speak up and others to be silent leads to the spiralling process which increasingly establishes one opinion as the popular one. Neumanns definition of public opinion is best expressed as the dominating opinion which compels compliance of attitude a behaviour in that it threatens the dissenting individuals with isolation. There are a few individuals that are known as â€Å"hardcores† who are willing to express their opinions without feeling compelled to conform. They will not be silent in the face of the public opinion. How do individuals know which opinions are acceptable to express in public without the fear of isolation? Neumann claims that by the use of a â€Å"quasi-statistical organ†, the individual assesses the opinion environment. The individual will the specifically use the climate of opinion. The media plays an important role through agenda-setting, according to certain persons and arguments relating the urgency or share of success for various opinions. One of the main parts of the explanation to the spiral of silence is the role of mass media. Noelle-Neumann believes that with more people watching mass media, the more the minority will keep quite because they will think that they are even more of a minority that they actually are. She claims that this is so because it is becoming the only media outlet that people are using, along with the internet, so it is able to control exactly what people see or hear. The media know this and because of that, they use their powers to influence the public opinion as much as possible towards which ever beliefs they hold or want to put across. Noelle-Neumann claimed that in the early seventys, the media had powerful effects, particularly over opinion formation. She believed that it was deficient because it was conducted under laboratory conditions and not in the field. Mass media is everywhere and individuals can rarely escape accumulation of the same media message. It was also found that in any circumstance a person with low self-esteem is less likely to speak out even if they agree with the majority opinion, simply because that is what their personality dictates. She also discovered that having diverse reporting has a powerful role in the mass media and the views of those watching it. Since the media is diverse, and it shares different view points on a subject, then people will be more willing to take different sides of an argument because they will not feel as alienated as before. The elements of Noelle-Neumanns ideas can also be found in several scholarly works including Floyd Allport (1978) who described the climate of opinion. John Locke (1961) describes Noelle-Neumanns â€Å"hardcores† when he says â€Å"nor is there one of ten thousand who is stiff and insensible enough to bear up under the constant dislike and condemnation of his own club† W.Phillps Davison (1975) describes the public opinion process of conformity-induced silence occurs when an individual feels he/she is in the midst of a hostile majority. Thus the concept of the opinion climate and the spiral of silence are not new. Noelle-Neumann was able to articulate a thesis based on these concepts and generated data to support some of her contentions. When Noelle Neumann was forced to revise her theory to accommodate the other findings, the theory became much better. She added to her theory many other factors such as race, gender, age, environment, and social status. Now the theory cl aims that all of these things, in addition to whether one is in the majority of the opinion on a subject, will all matter whether a person speaks out. Fear Of Isolation Conformity Since Pressure to conform is a major portion of Noelle-Neumanns foundation for her arguments, Solomon Asch (1995) also did a study where he put one subject in the midst of seen confederates and asked each person to determine the shortest of three lines. Arch had seven confederates purposively select an incorrect line, and then examined the subjects response in light of the clearly wrong response of the confederates. He found that one-fourth of the subjects were completely independent of any majority pressure. These people, who Noelle-Neumann would label â€Å"hardcores†, selected the correct lines despite pressure to conform and select the incorrect line. On the other hand, no subjects conformed on every trial the situation did not elicit total conformity from subjects. He found that in manipulating some independent variables, pressure to agree is highly specific. There is no single â€Å"type† of individual who agrees, nor does public conformity imply inner acceptance of judgment or opinion. In analyzing different groups of subjects, Asch found that although very few yielded nearly completely to majority influence, they didnt think they had yielded at all. These people perceived the majority estimates as correct and didnt feel as though they themselves had conformed. Most of the subjects, who agreed, however lacked the confidence in their estimates and felt a tendency to go along with the majority when in doubt. Others who confirmed knew they were right but did not want to appear different from the majority. In a follow-up experiment, Asch found that if the subject had some support from some in the group, conformity to majority influence inclined substantially. Noelle-Neumann based her spiral of silence theory notion on face-to-face, small group situations that was described by Locke (1961), Allport (1937) and Asch (1951). In each of the cases the individual is isolated a midst a hostile majority and in direct contact with his antagonists. Although most of the test that were done in the past did prove the theory, there were some circumstances that were overlooked, as to the ability to apply to universal situations. For example, different ages, gender and education were left out and the very fact that the questions that were asked were about irrelevant things, raises the

A Financial Comparison Between Two Companies Finance Essay

A Financial Comparison Between Two Companies Finance Essay Find the most recent financial statements for two companies of same industry which are listed in KLSE (Kuala Lumpur Stock Exchange). Evaluate the financial position and performance for each of these two companies using accounting ratio analysis. You are required to compute and compare the accounting ratios between these two companies, and conclude the results of your finding. The limitations or problems of using accounting ratios for performance analysis should be include in your conclusion. INTRODUCTION Accounting ratio is one number that expressed in terms of another relationship between two or various figures and company that can be compared. Example it can be shown in a view from balance sheet, profit and loss account, and budgetary control system or in any accounting organization that shows relationship between accounting data. The purpose of accounting ratio is simplifies the comprehension of financial statements and condition by successful and unsuccessful firm. Other than that it also helps in the of planning, forecasting and assist management and it helps in case of investors and lending decision of bankers. The 5 aspect of business measured by accounting ratios is: Profitability that is how far the company earns profit, Liquidity is to measure the financial status, Asset management is how far the company can manage their finance, Debts management is how they manage their tax, and Market value of investment to ordinary shareholders is how they create their market value book. FORMULA THAT USED MEASURE EACH ASPECT OR AREA OF BUSINESS Profitability of company A) Gross profit markup (%) = ÃÆ'- 100 Gross profit = Sales Cost of the good / Opening stock + Purchase Closing stock B) Gross profit margin (%) = ÃÆ'- 100 Net sales value = Sales Return inwards C) Operating profit margin on sales (%) = ÃÆ'-100 D) Profit margin on sales (%) =ÃÆ'-100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 Net sales value E) Basic earning power (BEP) = ÃÆ'- 100 Total asset = Fixed assets + Current asset F) Return on Total assets = ÃÆ'- 100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 Net sales value G) Return on common equity = ÃÆ'-100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 ( Ordinary share capital + Reserves ) OR (Total assets Total liabilities) Liquidity of company A) Current ratio / Working capital ratio = B) Liquid ratio / quick ratio / acid test ratio = Asset management of company A) Inventory Turnover or Stock turnover = or B) Total Assets Turnover = Total asset = Fixed asset + current asset C) Debtor Ratio = D) Days sales outstanding = Debts management A) Debts ratio = Total Debts = Long time liabilities + Current liabilities Total asset = Fixed assets + Current asset B) Debts equity ratio = C) Times interest earned or Interest cover = Market value of investments to stockholders A) Earnings per share = = B) Price earnings ratio = C) Earnings yield = = D) Market price per book value ratio = = Inter-temporal comparisons between two periods are the comparison value that happens between years in one industry for example year 2009 and 2010. Inter-firms comparison between two companies is a different accounting policies and rules and regulation that they created like in IJM BERHAD and GAMUDA BERHAD. Comparison with industry average can measure that is happen in market value to common stockholders in every each industry. And there are two companies are selected for business performance measurement that is : IJM CORPORATION BERHAD GAMUDA BERHAD BACKGROUND ,INDUSTRY AND BUSINESS TYPE OF THE TWO COMPANY IJM CORPORATION BERHAD IJM is a Corporation Berhad is an a international competitive Malaysian conglomerate with business in construction, properties, industries, plantations and infrastructure systematic industry. Joining of three company enterprising local construction IGB Construction Sdn Bhd was incorporated in 1981, Jurutama Sdn Bhd was incorporated in 1970 as Soon Tat Construction Sdn Bhd and Mudajaya Sdn Bhd incorporated in 1965 as Chye Hin Construction Co Ltd. IJM become grown in reputation and renown internationally in excellent ways of by achieving record by numerous awards. GAMUDA BERHAD Gamuda is a Construction , building and engineering like main project on highways, airport runways, highways, railways, tunnels, water treatment plants and dams, to infrastructure privation and the development of new townships and also it is a property and infrastructure company in Malaysia. The income statements and balance sheets of the two companies information that are required for business performance and it obtain the required information from the related company financial reports via internet . FORMULA Ratio with formula (Profitability of Company) IJM Corporation Berhad Gamuda Berhad Gross Profit markup (%) = ÃÆ'- 100 = 31.16% Gross profit = Sales Cost of the good RM2455143000 RM2032167000 = RM422976000 Cost of the good sales = RM1580125000 + RM363348000 + RM8595000 + RM19973000 + RM19260000 + RM40866000 = RM2032167000 ÃÆ'- 100 = 20.81% Gross profit margin (%) = ÃÆ'- 100 = 23.76% Net sales value = Sales Return inward RM2455143000 0 =RM 2455143000 ÃÆ'- 100 = 17.23% Operating profit margin on sales (%) = ÃÆ'-100 = 18.65% ÃÆ'- 100 = 10.58% Profit margin on sales (%) = ÃÆ'-100 = 8.29% ÃÆ'- 100 = 11.43% Basic earning power(BEP)= ÃÆ'- 100 Total assets = RM6959529000 + RM5598766000 = RM12558295000 = 5.96% Total assets = RM2347737000+RM4203173000 = RM6550910000 ÃÆ'- 100 = 3.97% Return on Total assets= ÃÆ'- 100 Total assets = RM6959529000 + RM5598766000 = RM12558295000 = 2.65% Total assets = RM2347737000+RM4203173000 = RM6550910000 ÃÆ'- 100 = 4.28% Return on common equity= ÃÆ'-100 = 6.48% ÃÆ'- 100 = 8.62% Ratio with Formula (Liquidity of Company) IJM Corporation Berhad Gamuda Berhad Current Ratio= = 2.09:1 = 2.18 : 1 Acid-test ratio= Liquid asset = Current asset -inventory RM5598760000 -RM 529320000 = RM5069446000 = 1.89:1 Liquid asset = Current asset-inventory RM4203173000 RM79738000 = 4123435000 RM4123435000 RM1930241000 = 2.14 : 1 Ratio with Formula ( Assets Management of Company) IJM Corporation Berhad Gamuda Berhad Inventory Turnover = or = 5.78 times = 25.49 times Total Assets Turnover= = 0.32 times = 0.37 times Debtor Ratio= = 0.54 : 1 = 0.65 : 1 Days sales outstanding= 0.54365days = 197.1days 0.65365days = 237.25days Ratio with Formula (Debts management of company) IJM Corporation Berhad Gamuda Berhad Debts ratio= Total Debts = Long time liabilities + current Liabilities = RM3303461000 +RM112250000 = RM3415711000 Total assets = Fix asset + Current asset RM3415711000 + RM2685225000 = RM6100936000 = 0.49 : 1 Total Debts = Long time liabilities + current Liabilities = RM1312946000 + RM1930241000 = RM3243187000 Total assets = Fix asset + Current asset RM2347737000 + RM4203173000 = RM6550910000 = 0.50 : 1 Debts equity ratio= = 1.19 : 1 = 1:1 Times interest earned or Interest cover= = 3.72 times = 5.93 times Ratio with Formula (Market value of investment to stockholder of company) IJM Corporation Berhad Gamuda Berhad Earnings per share= = = RM0.25 = RM0.14 Price earnings ratio= OR = 19.2 times = 22.86 times Earnings yield= = 100 / 75 X RM 0.25 RM0.48 = 6.94% = 5.83% Market price per book value ratio= = = = 1.24 : 1 = = 1.99 : 1 The Ratio Comparison between two companies for business performance measurement under each of the bold headings Profitability of the two companies: Gross profit markup and gross profit margin for the (Gamuda Berhad) is lower than (IJM Corporation Berhad) because the ineffective and inefficient in purchasing from supplier causing higher purchase cost, ineffective use of material and labor causing higher production cost to reduce gross profit earning. For operating profit margin on sales, (Gamuda Berhad) have a lower profit earned by company from the sales made for the ineffective control on expenditures and interest cost, incurring higher operating expenses and higher interest costs to reduce the profit earning but profit margin on sales, (Gamuda Berhad) have higher profit earned by company from the sales that is made for the effective control on its expenditures and interest costs, incurring lower operating expenses and lower interest costs to increase the profit earning than the second company. Liquidity of the two companies: The current ratio is first company is higher than second company because first company has larger amount of current assets can be used to finance its current liabilities and that will indicates the company is financially stable and able to finance its short-term liabilities. For acid-test ratio, first company is also higher than the second company is because that the first company has a larger amount of liquid assets that can be used to finance its current liabilities and the company has high liquidity to finance its short-term liabilities and financially stable. Asset Management of the two companies: The inventory turnover for the first company is higher than the second company because the first company has a fast stock turnover where the goods purchased and kept in the store are fast taken out for resale so that the stock is not accumulated and money is not tied up with the stock. For total assets turnover, the first company is also higher than the second company because first company has a higher sales generated from the assets for the effective use of assets in business activities to increase the production. Other than that, the debtor ratio and DSO, the first company is higher than the second company because the company has given longer credit time to allow debtors owing and causing longer time taken by the company to collect money slowly from debtors so that larger debtor balance is collected to tie up money and bringing it to shortage of money for paying back liabilities and facing short-term financial problem. Debts Management of the two companies: The debts ratio for the first company is higher than the second company because the first company has a heavy debts burden with larger amount of debts and bearing high interest cost. Company with heavy debts burden is risky for not able to finance or not able to pay back its debts or maybe it is being forced to dispose or to sell its assets for paying back the debts. But for debts equity ratio, the first company is lower than the second company because the second company has a light debts burden with smaller amount of debts and bearing low interest. And the times interest earned for the first company is higher than the second company because it has a bearing high interest charges in relation to its available profit. Market value of investment to stockholders: Earnings per share and earnings yield for the first company is lower than the second company, this indicates that the company has lower growth in business profit and resulting lower net income available to each unit share and being less attractive and lower value to the common stockholders. Due to lower earnings per share, stockholders or shareholders have to use more times of profit earning and more times of net cash inflow and longer period to recover back their share investment. This shows the confirmation by the price earnings ratio for the first company is being higher than the second company. Market price per book value for the first company is higher than the second company, this indicates that the company share price has inequitably risen up above its real asset value or book value and being not realistic to stockholders. Conclusion In my conclusion, the first company Gamuda Berhads performance is better than the IJM corporation Berhad, and this indicated (Gamuda Berhad) has better performance, because first company has a higher rate in the 5 aspect of business that measured by accounting ratio. In information problems, the base information is out of date and analysis of accounting information, and they will only identify symptoms but not the causes and this will make the company to have information problems. For inter-firm problems, every companies have to select their industry norms and the usefulness of norms based on the averages and different company have different business and financial problems and the impact on analysis. so in this matter they have theur own way to solve their problems. QUESTION 2 Identify and discuss three different ways for transferring capital or fund from savers to borrowers in the financial market. ANSWER QUESTION 2 INTRODUCTION Financial market means it is a organization and people who be found to borrow money from those having some valuable metals to be exchanged at efficient by market price and also they refer to the stock market, wall street, even markets. In this field there are many different kind of financial market each market use different kind of matted, terms, types of parts of country and customer and the asset banking. By the ending from the any type of this helps them in business grown big and investors make money and give them a lot of profit. At the same time the trading of the stock and bonds that they get in financial market take place direct between buys and sellers and also financial market can be a good relationship by domestic or international business level in communication. There are many various of types in financial market that is physical asset markets to deal with the tangible, real and physical products such as computer, machinery, real estate and other assets the financial market deal with different types of instruments such as stocks or shares, bonds, notes, mortgagees and other claims or real assets with derivative securities whose values derived from changes in the price of other assets. Spot market refer to deals being bought or sold for on the delivery within a few days where future market refers future market deals bought or sold future delivery at some future date such six months or a year in to the future. There are some major financial markets like money markets who deals asset in short term and highly liquid debt securities in borrowing and lending with original maturities in a short periods between less than one year for example it involves like certificate of deposit, federal funds and asset-backed securities. Capital markets is who deals for securities where companies and governments can intermediate or long-term debts in a periods of one year or more than one years and also it include stock market. Montage market is a market who deals with loans on residential, commercial, industrial real estate and farmland and the federal government has confirmed that a major economic role in the mortgage loan market because real estate development is a major sector of the U.S. Economy. Consumer credit market is markets that deals with loans and autos and appliances, as well as loans for education and vacations and provide good services. Primary markets is an market which is corporations raise capital by issuing new securities or new shares like governments or public sector institutions can obtain funding the sale of a new market issue. A secondary market which is the existing and already outstanding securities or financial assets are traded among investors after they have been issued by the corporations and also called as aftermarket where have been issued securities and instruments such are bought and sold. Initial public offering (IOP) market that is firm by offering securities to the public for the first time and often often issued by smaller, younger companies seeking to expand, but can also be done by large private companies looking to become publicly traded. Private market is all about transactions that worked privately and directly between two parties without going to public by independently and also they called breakup value market. There are three different ways of transferring capital or funds from savers to borrowers in financial markets and they are following picture: TRANSFER OF CAPITAL OR FUND BETWEEN SAVERS ( MONEY LENDRE ) AND THOSE WHO NEED CAPITAL OR FUND ( BORROWERS ) 1. Direct transfer from savers to borrowers: When a corporation take place in issues and sells stocks or bonds strata way to saver without giving any financial institution so the corporation as borrower will delivers securities to savers who in turn give money to the corporation and the capital directly transfersed from savers to corporation (borrower). Business Corporation Issue corporations securities to Savers (Borrower) Receive capital or funds from (Money lender) 2. Indirect transfer from savers to borrowers though investment banking house: Investment bank is a unwritten the issues of corporations securities as a middlemen to the facilitate the issues by purchase and then resell the same corporation so that the money paid by savers for purchase. The investment bank receive money merely pass thought banking house. Issue corporations Resell corporations Securities to securities to Business Investment Savers Corporation Banking (money (Borrower) House Lender) Receive fund from Receive fund from 3. Indirect intermediately such as a bank or mutual funds from saver by issuing securities or certificate of deposit to savers. Than it used the fund collected to purchase and hold the securities as investment and the funds transferred from saver intermediary when pay money to financially exchange for receiving certificate of deposit . future than that this fund to other corporation paying money out of fun because they are safer and more liquid them mortgage and loans. Issue Corporations Issue intermediarys Securities to Securities to Business Financial Savers Corporation (Money (borrower) Intermediary Lender) Receive fund from Receive fund from Investment Banking House Can be say that organization that underwrites and distributes the upcoming new issue of latest business corporations securities to assist corporation that is fund for financial. For example, a businessperson who produces shoes may purchase a machine that automatically stitches leather that hopes in the time saved will allow for the production of more shoes and increased sales or another example investment banking house are Merrill Lynch and Morgan Stanley Dean Witter. Financial Intermediaries There are some specialized in financial firm that transfer of funds from savers to be demanders of capital or event borrower. The financial intermediaries generally huge and they gain in economies of scale in analyzing the creditworthiness of potential borrower, in processing and collecting loans, and in pooling risk and for the helping individual savers to diversity their funds investments. Following are major financial intermediaries Commercial bank is a financial intermediary which collects credit from lenders in the form of deposits and lends in the form of loans holds deposits for individuals and businesses in the form of checking and savings accounts and certificates of deposit of varying maturities while a issues loans in the form of personal and business loans as well as mortgages and also they handled checking accounts and thought which is Federal Reserve System expended or contracted the money supply. They also provides an ever-widening service, stock brokerage service and insurance and they are different from investment bank they lend out money to borrows and investment banks assist business corporation to raise capital or fund from savers. Saving and loan association is a specializes in accepting savings deposits and making mortgage and other loan like collect funds from many small savers and lend out the money to house buyers and other kind of borrowers and it more significant economic function of the saving and loan association to create liquidity in capital markets. Mutual saving funds is a savings that has no stockholders and reinvests all profits in itself and the savings banks are owned their depositors and borrowers because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. Credit unions is a non-profit financial institution that owned and operated entirely by members and also it provide financial services for their members, including savings and lending. In large organizations and companies may organize credit unions for their members and employees, respectively. They are often the chepast source of funds available to individual to borrowers. Pension funds is a retirement plans funded by corporation or government agencies for their workers and administered by trust departments of commercial banks or by life insurance companies. It also a funds invest primarily in bonds, stocks, mortgages and real estate. Life insurance companies is a collect saving that form or annual premiums and invest in stocks, bonds, real estate and montage, finally make payments to the beneficiaries of the insured parties. It also have many kind of tax deferred saving plans to provide benefits to the participants when they retire. Mutual funds collect money from savers and use to buy stocks, long-term bonds and short-term debt instruments that issued by government or business units and thus reduce risk by investment diversification, achieve economies of scale in analyzing securities, managing portfolios, buy and selling securities. They also designed to meet objective in different types of savers and they used as interest bearing checking account such as money market funds.

Alzheimer´s Disease: An in Depth Look at Signs, Symptoms, and Disgnosis

â€Æ' Alzheimer’s disease is a form of dementia affecting the older population. Symptoms are more noticeable over time due to the severity of the stages worsening. Alzheimer’s is the most common form of dementia. It accounts for fifty to eighty percent of dementia cases. Contrary to belief Alzheimer’s is not a normal part of aging. Different parts of the brain are affected causing multiple symptoms sometimes not diagnosed until later stages in the disease. Nerve cell death and tissue throughout the brain is the most significant affect over time. Naturally by age twenty-five the brain starts to decrease in size. With Alzheimer’s, the amount decrease is extremely significant. The cortex begins to shrivel up which is the part of the brain required for planning, remembering, and thinking. The most noticeable shrinkage occurs in the hippocampus. The hippocampus is responsible for the formation of new memories, it is also located inside the cortex. Upon further inspection under microscope, tissue samples are observed and synapses and nerve cell count is severely decreased. Tangles, are also found which our twisted strands of another protein due to nerve cells dying and bunching together. Plaques and tangles are prime suspects in the death and tissue loss in the Alzheimer’s brain. Beta-amyloid is a chemical and is sticky which causes it to gradually build up into plaques. This chemical derives from a larger protein found in the nerve cells with fatty membranes. These tangles destroy a vital cell transport system made of proteins. There are seven stages of Alzheimer’s, classified by Dr. Barry Reisberg, M.D. clinical director of the New York University School of Medicine’s Silberstein Aging and Dementia Research Center. Each stage carr... ...ally during this stage patients will lose their ability to control movement completely, but still may say words and certain phrases. He/she will need assistance with most of their daily living and require personal care round the clock. Also, they lose the ability to smile or sit without support. Diagnosis of Alzheimer’s disease is not an exact science. Certain tests are completed to assist in the diagnosis. These tests include; mental status testing, neurological exam and thorough medical history, physical tests are also completed. There are no current treatments for Alzheimer’s disease. Researchers are constantly looking for new and advanced treatments to alter the course. Any breakthrough in progress will ensure the improvement of the quality of life of people with dementia. Works Cited www.alz.org www.nia.nih.gov/alzheimers/publication/alzheimers-disease

Phosphates and dissolved oxygen :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Phosphates are present in many natural waters, such as lakes and streams. Phosphates are essential to aquatic plant growth, but too much phosphate can lead to the growth of algae and results in an algae bloom. Too much algae can cause a decrease in the amount in dissolved oxygen in the water. Oxygen in water is affected in many different ways by phosphates  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Phosphorus is usually present in natural waters as phosphate(Mcwelsh and Raintree, 1998). Phosphates are present in fertilizers and laundry detergents and can enter the water from agricultural runoff, industrial waste, and sewage discharge (Outwater,1996) . Phosphates, like nitrates, are plant nutrients (Phosphates, 1997). When too much phosphate enters a water, plant growth flourishes (Phosphates). Phosphates also stimulate the growth of algae which can result in an algae bloom(World Book Encyclopedia,1999). . Algae blooms are easily recognized as layers of green slime, and can eventually cover the water's surface. As the plants and algae grow, they choke out other organisms. These large plant populations produce oxygen in the upper layers of the water but when the plants die and fall to the bottom, they are decomposed by bacteria which use a lot of the dissolved oxygen in the lower layers (Phosphates). Bodies of water with high levels of phosphates usually have high biological oxygen demand (BOD) levels due to the bacteria consuming the organic plant waste and subsequent low dissolved oxygen levels(Hooper,1998).   Ã‚  Ã‚  Ã‚  Ã‚  The addition of large quantities of phosphates to waterways accelerates algae and plant growth in natural waters (Hooper), enhancing eutrophication and depleting the water body of oxygen. This can lead to fish kills and the degradation of habitat with loss Boyington 5 of species. Large mats of algae can form and in severe cases can completely cover small lakes. Dying plants and algae will create phosphates while decaying, as a result, water can become putrid from decaying organic matter (World Book Encyclopedia). When the concentration of phosphates rises above 100 mg/liter the coagulation processes in drinking water treatment plants may be adversely affected (World Book Encyclopedia). Manmade sources of phosphate include human sewage, agricultural run-off from crops, sewage from animal feedlots, pulp and paper industry, vegetable and fruit processing, chemical and fertilizer manufacturing, and detergents.   Ã‚  Ã‚  Ã‚  Ã‚  Dissolved oxygen is one of the best indicators of the health of a water ecosystem. Dissolved oxygen can range from 0-18 parts per million (ppm), but most natural water systems require 5-6 parts per million to support a diverse population (Phosphates).

Income Tax Exemptions in Pakistan

In The name Of Allah The Most Merciful & The Most Beneficent Assignment of: Principle & Practice Income Tax Topic: Need of Tax Exemption [pic] Question: What is the need of Tax Exemption or Tax Concession in income tax from government point of view? And Does present income tax exemption policy of Pakistan effective in achieving its objectives give comments? TAX EXEMPTION According To â€Å"Community Benefit† theorists Tax-exemption contributes to pluralism â€Å"by providing the public goods and services that either are undersupplied by the private market or by the government or else not provided in the same socially desirable manner† NEED OF TAX EXEMPTION Tax Exemption is provided for various purposes discussed below which are: ? To Promote Economic activity ? To Provide Benefit to society ? To Provide Corporate Welfare ? To Attract Businesses ? To Promote Organizations ? To Encourage Religious Activities ? To Encourage Economic Activities ? To Encourage Retirement-Led Investment ? To Promote Economic activity Tax exemptions are usually meant to either reduce the tax burden on a particular segment of society in the interests of fairness or to promote some type of economic activity through reducing the tax burden on those organizations or individuals who are involved in that activity. ? To Provide Benefit To Society Tax Exemptions are accorded to certain organizations because they provide a benefit to society which the government is unable or unwilling to provide. ? To Provide Corporate Welfare Tax Exemption to specific businesses such as Big Oil is for corporate welfare. To Attract Businesses Exemption from property tax and other local tax is used as a tool for attracting business to areas suffering from economic down turn or depression. ? To Promote Organizations Tax Exemption is provided to individuals and organizations to promote economically. ? To Encourage Religious Activities Tax exemption is provided to encourage certain social and religious activities. ? To Encourage Economic Activ ities Tax exemption is provided to encourage certain economic activities. ? To Encourage Retirement-Led Investment Tax Exemption is provided on amount of gratuity or commutation of person to encourage retirement-led investments. COMMENTS Ignoring all other factors and emphasizing particularly on tax exemption we can comment that, ? Tax exemption has promoted agriculture sector. Tax is not applied on income generated up to Rs. 80,000, income exceeding from R. s 80,000 will b taxed. The total number of such farmer assesses is reported to be only about 20,000 in the entire country with an average of no more than 200 such agriculture income tax payers per district. Thus tax exemption provides relief to people engaged in tax exemption. ? Tax exemption has promoted scholarships in the country as the ratio of scholarships have increased from last decades which is providing opportunities to many students to not only study in Pakistan but also abroad. Tax exemption from scholarships is beneficial for both students and country. ? Tax exemption has promoted immense foreign investment in Pakistan as China has started many projects in Pakistan not only because of cheap labor but also because of tax exemption. Similarly many other foreign projects are practicing in Pakistan. Tax exemption has promoted many investment banks as Modarba, macro finance bank, national investment trust etc which provide many easy loans to people and firms which in turn contribute in promoting society. ? Tax exemption policy has promoted many sectors as businesses, educational sector, foreign investment, NGO’S etc Thus, We can conclude that present tax exemption policy i s providing many incentives to people, starting new businesses and is encouraging people to invest more and more in various sectors which in turn are generating income to the economy. It is because of tax exemption that many projects have started in special industrial zones in Pakistan as Export processing zone, North Western Industrial zone, Eastern Western Industrial zone and many more. Tax exemption policy in many areas as income earned from foreign enterprise, capital gain by foreign institutional investor, income from transport businesses has widened the approach of business. So present income tax exemption policy of Pakistan is effective in achieving its objectives. [pic]

Imperialism of United States in the Philippines

After its defeat in the Spanish-American War of 1898, Spain ceded its longstanding colony of the Philippines to the United States in the Treaty of Paris. On February 4, 1899, just two days before the U.S. Senate ratified the treaty, fighting broke out between American forces and Filipino nationalists led by Emilio Aguinaldo who sought independence rather than a change in colonial rulers.The ensuing Philippine-American War lasted three years and resulted in the death of over 4,200 American and over 20,000 Filipino combatants. As many as 200,000 Filipino civilians died from violence, famine, and disease. The decision by U.S. policymakers to annex the Philippines was not without domestic controversy. Americans who advocated annexation evinced a variety of motivations: desire for commercial opportunities in Asia, concern that the Filipinos were incapable of self-rule, and fear that if the United States did not take control of the islands, another power (such as Germany or Japan) might do so.Meanwhile, American opposition to U.S. colonial rule of the Philippines came in many forms, ranging from those who thought it morally wrong for the United States to be engaged in colonialism, to those who feared that annexation might eventually permit the non-white Filipinos to have a role in American national government. Others were wholly unconcerned about the moral or racial implications of imperialism and sought only to oppose the policies of President William McKinley’s administration.After the Spanish-American War, while the American public and politicians debated the annexation question, Filipino revolutionaries under Aguinaldo seized control of most of the Philippines’ main island of Luzon and proclaimed the establishment of the independent Philippine Republic. When it became clear that U.S. forces were intent on imposing American colonial control over the islands, the early clashes between the two sides in 1899 swelled into an all-out war. Americans tended to refer to the ensuing conflict as an â€Å"insurrection† rather than acknowledge the Filipinos’ contention that they were fighting to ward off a foreign invader.